THELOGICALINDIAN - Bitcoin amount acquired bullish drive aloft 5250 adjoin the US Dollar BTC charcoal in an uptrend and it is acceptable to ascend aloft 5400 or alike 5450 in the abreast term
Bitcoin Price Analysis
In the accomplished three sessions, there were positive moves aloft $5,160 in bitcoin amount adjoin the US Dollar. After yesterday’s absolute abutting aloft the $5,160 resistance, BTC/USD acquired strength. There was a accessory downside alteration from the $5,275 beat high, but dips remained supported. The antecedent important resistances abreast $5,180 and $5,160 acted as able supports. The amount additionally backward aloft the 50% Fib retracement akin of the aftermost leg from the $4,942 low to $5,275 high.
Later, the amount started a beginning access and bankrupt the $5,250 and $5,275 attrition levels. It activated the $5,300 akin on two occasions and it is currently accumulation gains. An antecedent abutment is abreast the 23.6% Fib retracement akin of the contempo advancement move from the $5,017 low to $5,300 high. There is additionally a key ascendance approach in abode with abutment at $5,230 on the alternate blueprint of the BTC/USD pair. If the brace fails to authority the approach support, it could abatement appear the $5,180 abutment area.
The capital abutment is at $5,160, and the 50% Fib retracement akin of the contempo advancement move from the $5,017 low to $5,300 high. There is additionally a aloft bullish trend band in abode with abutment abreast $5,160 on the aforementioned chart. Overall, bitcoin remains able-bodied supported aloft $5,160 and 100 alternate simple affective average. On the upside, an antecedent attrition is abreast the $5,300 level. A breach aloft $5,300 and $5,320 could advance assets in the abreast term.
Looking at the chart, bitcoin amount acquired bullish drive aloft $5,200 and activated $5,300. In the abbreviate term, there could be a accessory downside alteration appear $5,230 or $5,200. However, the amount is acceptable to animation aback and barter accomplished $5,300, $5,320 and $5,350 attrition levels.
Technical indicators:
Hourly MACD – The MACD is boring abbreviation its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently acclimation from the 65 akin and could analysis the 55 level.
Major Support Levels – $5,200 followed by $5,160.
Major Resistance Levels – $5,300, $5,350 and $5,400.
